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as you can see merely 7%. rbs coming out with results this morning. this is the uk bank with a government owned majority and part nationalized lending reporting an increase in third quarter. deutsche telecom considering slashing it dividend according to reports. let's show you where we stand on the currency markets. the dollar today ahead of the u.s. jobs report. we'll show you sterling-dollar slightly weaker. dollar slightly firmer against the aussie. and dollar firmer against the yen. so bond yields are slightly firmer this morning. 144. ten year spanish yields higher. italian yielder slightly higher but pretty contained. ten year treasuries where we were yesterday. let's go to asia. >> following a positive lead from wall street, asian markets wrapped up the trading week in the green. the record $60 billion worth of liquidity into the market this week. shanghai com poise the quaned 2.5% for the week. developers continue to lead the charge as average home prices in china's 100 largest cities up for a fifth straight month in october. blue chips lent support to the hang seng ending at a 15
government has stepped in to help. this is the third hurricane i've covered in my lifetime, andrew, katrina and now this. we are at the point where the population gets furious and they turn on the government. the government can just not handle the huge, huge logistical requirements that happen after a storm like this. could this actually turn on the president at some point here? >> reporter: i don't think so. i think what the president has had the opportunity to do is show americans that he was involved in an effort that the country was rallying behind and do his job in a way that got praise by the keynote speaker at the republican convention, chris christie, very tough critic of the president otherwise. so i don't think many voters are going to blame president obama for what's going on right now, and leave aside the fact that the states in which the difficulties are occurring db new york, new jersey, connecticut are all reliantly democratic states. what is much more important to the outcome of this election, michelle, is what's going on behind me at this afl-cio phone bank where union volu
of sandy. why government coming to the aid of those hit by the storm is now a rallying cry for bigger, more expensive government. that big debate and a lot more still ahead on "the closing bell." oh, just diagramming this accident with my state farm pocket agent app. you can also get a quote and pay your premium with this thing. i thought state farm didn't have all those apps? where did you hear that? the internet. and you believed it? yeah. they can't put anything on the internet that isn't true. where did you hear that? [ both ] the internet. oh look. here comes my date. i met him on the internet. he's a french model. uh, bonjour. [ male announcer ] state farm. more mobile than ever. get to a better state. >>> welcome back. we want to show you some shots of new jersey, one of the hardest hit states as a result of hurricane sandy. president obama in new jersey with governor chris christie touring some of the hardest hit areas of the state. is this brigantine, nng? this is certainly new jersey and we want to show you some of the other pictures if we can and take you back to the president an
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scrutiny than ever. going into next year, do you expect this to change the tenor around government spending at all? >> well, that's kind of an interesting question here, question have to solve the fiscal cliff first. and the spending in government last month, that was a big hit to gdp last month from government defense spending. the issue is a deficit which is a huge drag long term and the spending of government and a lot of this will depend honestly on who is elected. >> stay with us. first we'll check on the markets to the degree that we can. u.s. futures have been trading in the overnight and morning session. >> currently trading a little bit more than 40 points below fair value. let's show you european markets. a bit higher this morning by good numbers out of ubs and bp. ftse 100 up 35 points. xetra dax up 0.8%. ibex up 0.6%. let's remind you what's going on as far as reinsurers are concerned. impact on hurricane sandy as well. all the big reinsurers are up. this is an expectation maybes wills aren't quite as heavy, but of course if you to get losses, also hardening rates in the long te
congress government has announced pressure measures to curb property speculation given housing prices have surged 20% in the first nine months. elsewhere, shares in taiwan hit a 13 honesty low with htc tumbling 7% after brokers cut its price target. the nikkei ended just a tad below the line, it's actually light trading ahead of tomorrow's boj meeting. honda cut after is an cut in outlook. korean currency strength fell, but some lg units surged on strong earnings. kospi ended flat. the asx 200 managed to to finish marginally in the green. developers and utilities outperformed. sensex now lower by about a quarter of a percent. >> let's take a look at trade in europe and u.s. futures which are trading as usual this morning, dow jones industrial average if it were to open today implied to shed about 55 points. nasdaq and s&p also pointed lower. that largely does cue off the attitude in european trade. it's noted we've seen losses about half a percent across the ftse and xetra dax, cac 40 down 0 on.9%, ibex shedding about half a percent. bonds, whin he left a week or so ago, spanish yields wer
a turn for the worst we get a large macro number, government number or weakness out of europe i can lose less than people playing the earnings momentum game because i own the best and i am short the rest. sector analysis is particularly important technology. people confuse this gigantic group of stocks which comprises more than 15% of the s & p 500 constantly. tech is a whole group of markets. infrastructure stocks, assemblers, each have a separate growth rate. here i like to look at the earnings per share growth rate of the companies i follow versus the individual prices of the sector. the sector growth rate doesn't work even though people keep trying to use it. cloud stocks, for example, are highly valued. price rates to growth earnings are extreme. that means there's no room for error, a chink that could upset the growth rate. in 2011 one of my favorite cloud stocks -- it got pancaked and stayed ugly for a long time. why? because it underperformed its portion of the technology sector even as its growth rate would have been outstanding for say a personal computer-related stock or a dis
the opportunity for a boost since the government rebuilt southern florida after hurricane andrew in 1992. a reconstruction so huge, it moved the country's entire gdp needle just when we needed it, after right a nasty recession. and now that we've assessed the damage, or we're trying to at least, i'll have to tell you one thing. i think this looks like a possible replay of that hugely bullish. right after a nastier recession. you couldn't tell that today to. ford with terrific numbers because they're connecting with the building materials industry. those stocks performed best today with the ones that took matters into their own hands. we spoke to queen harbors after it bought safety queen. to diversify away from the oil and gas business. queen harbors may have been up huge anyway, simply because, well, it's queens harbors. precisely what sandy ordered. buyers love the acquisition. $8.91. 18% gain for the good guys. tonight we're going to speak with two other companies that want to make you money. just in the last couple days. we'll hear from eaton. it will soon close on its acquisition of
and power outages, very effectively. lots of folks spreading updates from government officials, power companies and news organizations really helping to get that word out. sandy, new jersey, fema, business, hudson river, tappan zee bridge, all of the top trending topics on twitter. instagram has seen thousands of photos taken. interestingly delaware is the state with the highest amount of buzz around the storm followed by new jersey and then connecticut, but a picture is really what's worth a thousand words, and there are thousands of them. here are just a few. the fdyn, as you with see here, putting up a picture of the waves crashing into the bridge in brooklyn and then if you look over here, we've got a picture of the white house. this is the situation room. president obama tweeting out this very powerful. moving over here, you've got sandbags in jersey city, new jersey, justin solomon out with our reporter brian schactman in montauk tweeting that picture, and that's only gotten worse since then. there's more pictures from monta montauk. nbc's ron allen in atlantic city. check out t
between the two campaigns and two visions. one says that government should get out of the way and let the private sector do its job. one, the president's campaign, said government's important. at a time like this, people are reminded as clearly and as graphically as they can be how important government is, how important it is that fema does its job and the state of new jersey and governor christie and his people do their job and that andrew cuomo and mayor bloomberg do their job. so government matters. this brings that home to people. >> what about the idea that people are just upset? you've got millions of people still without power. you've got, you know, all of this cleanup going on. isn't there some truth to the idea that people are just not happy right now and they go against the incumbent as a result of that, for no other reason just because mother name impacted their lives? >> the people are smarter than that. as long as they see the relief efforts are moving quickly and that the president or governors or mayors are doing everything they can, they're going to appreciate those ef
was good. a lot of it was the home building around the country. commercial wasn't so good. government wasn't so good. >> the ism was a little better. i want an asterisk next to everything. when i say better, it's not good. certainly better than the sub-50 we had the last couple months. manufacturing may be on the up swing. the regional surveys have not been that good. so the jury is out a little bit. we know we were on a down swing through the summer. we know we had a little bit of stability. now we've got to take that timing and put everything ahead. say, what's going on in the real economy? we were stabilized a little on the upswing. now we have to factor in sandy. that makes things unclear. >> 8:30 a.m. eastern time tomorrow morning. i know you guys will be there. ready to go tomorrow morning. >> see you then, guys. thanks. >>> meanwhile, this market still rallying, near the highs of the session ahead of the jobs report. bob is in the middle of the action. we got good jobs numbers this morning, bob. is that what this rally is about, or is it in anticipation of tomorrow? >> no, we're nea
the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ madmoney.cnbc.com. >>> welcome back to "mad money" special earnings season companion show. how not to be overwhelmed by earnings reports and put them in perspective so you can profit from them in an informed and confident way make money at home. we just went over how i like to use them themselves to figure out the growth rate. figure out whether it's too expensive or too cheap against its sector and the rest of the market. the next way i use the earnings report, something i call the ettf of the organization of the stock -- i measure the stocks's earnings growth and quality of the earnings growth against its cohort. then i figure out whether the whole cohort is worth owning or for getting about. that's right. for most than my more than three decades of investing i've send the fact the sector is important when you're sticking a stoc
will it cost the government's disaster refund leaf fu -- relief fund, and is there enough to cover it? eamon javers is here with more. >> you can see a very swollen potomac river. you can see a lot of debris going down the river. we've seen entire trees floating by our position here. the potomac has stayed in its banks. over here, they have these massive 20-foot flood walls that were ready to roll in case the river breached its banks last night. so far, so good here. as for the federal government's response, we just had a conference call with fema. they have about $3.6 billion left in their disaster contingency fund. that's as of october 26th. they're also saying that president obama when he made that major disaster declaration for new jersey and for new york, he did that verbally. what that meant was they were able to cut through a lot of the red tape and move this process along and get the response going even before the disaster happened. they're also saying that fema is dispatching housing inspectors to go out and take a look at the claims. they want to avoid any kind of massive fraud pro
which means you can make the infrastructure changes that you can't. you're a victim of government al control. it's the exact opposite of free market economics. >> it's a balance. no question about it. regulators are very sympathetic to utilities needs to enhance the infrastructure, but they have citizens breathing down their neck or want the rates cut or reduced. >> why didn't the markets set the rates? that's what i'm really asking. >> you can't do that with this asset. the thing that gets the juice from the generator on the customer, you can't have duplicate systems. and you would need duplicate systems if you really want that had kind of competition that you just inferred. >> that's what the distribution, but what about the purchase of the power itself. there are ways to deregulate this industry that would present who are competition, isn't there? >> no n. moin most cases there open market. there is competition. at the wholesale level. if you want competition at the resale level to some extent that exists in certain places. >> can i translate that for me? so if i run a big industr
is the size of his government footprint? but he needs on to be able to do that to keep the rest of us in line doing the right things. drinking the 16 ounce or less sugary sodas. anyway, go made. >> let's get a preview of today's jobs report. joining us right now from new york is the chief economist of fao economics. also from chicago, we have lou graves. good morning to both of you. lou, i think you're looking for a lower number than economists consensus. why are you looking for a lower number? >> one is a shift in what i see the local government education sector. >> war of the words. sorry. i don't know why my mike is open. >> but we've seen a shift into august for that sector. the hiring for that sector in august and september was the highest in the 57 year history that they've been following that. so if the other adjust the number this month only brings it up to the averages of the next few years, i think we can get a decline of, say, 25,000 in that sector. so that's why i think the government will be weaker than the private secretary it tore. but as far as the private sector goes, the emp
. >> you are speaking about the power of the individual as opposed to the power of the state or government. >> well look, i think in it's proper spot, the government is going to take care of the government. they are going to do a pretty good job and let me just say president obama has been all over this, so my hat is off to him. >> hurricanes don't create new economies. i'm saying destructive things like this can be repaired so we get back to where we were in the first place. the numbers, heck, $50 billion, $60 billion, some of that will be recouped in the 4th quarter and some in the 1st quarter. >> we were talking with peter king about that. >> well look, two things, you are talking about 0.30 of 1% of gdp. the fiscal clip and the tax and regulatory threats and barriers that is a different issue. i'm not saying that the repair of sandy is going to give us a 5% gdp which is what i want. it will get us back to par. and it will probably happen very fast. you want to break through that, sure, we have to solve all kinds of tax issues. all i want to say is, don't under estimate the american spi
of raising the protectionist flag and you're also cutting a lot of government spending. it's tough to get 4% growth. you can unleash, is that what unleashed the private sector, julian, do you think? >> 4% growth would certainly unleash -- >> can we unleash it by cutting and by, you know, starting a trade war with china? >> well, i think a trade war with china might very well in all seriousness help a lot of our industry here. >> that's an interesting take. >> the chinese are much more exporters than they are importers, and if they were hurt, i don't think that would necessarily hurt us. >> i thought they were just exporting cheap goods to help us here in this country. that's not it? >> to your point to growth, this is the most important piece of the -- >> solves a lot of things, solves the cuttings, solves everything. >> we could talk about this later if you have to go on to other folks but the policy levers to create growth are fiscal, monetary and trade and tax and regulatory. those are your policy levers. you've ticked through each one for president obama on regulatory, he has chilled gr
up primarily by the federal government. in concert with local and state governments. the federal government pays the bulk of the bill. and you have a large number of states. and my guess is, this is going to be extensive damage from a financial point of view, which federal government through fema, federal emergency management agency, et cetera, ultimately winds up paying for. state and locals pay a portion of it. but it's a small portion. i don't believe that's going to have a significant impact long term. the expenses diffused. it's not good for state and local governments because we're already under a lot of pressure but i think that's going to be manageable. and i don't think it's going to have a major impact. i just -- your question earlier on when do the markets get up and running and is there a delay, i think if there's an economic impact, that would be it. that's why the white house is concerned. i'm going to be reaching out to secretary geithner to make sure we're coordinated to everything we can to get wall street everything it needs to be operational as soon as possible
don't cover flooding. the federal government has at various times extended flood insurance and helped people. particularly when anyone remembers the fiasco where the federal government says, listen rich people, you can build beautiful houses again. that road where they let beautiful houses doesn't exist right now after last night and a lot of the properties that were destroyed are wealthy people. long beach island. people build homes where they shouldn't build them but counting on the federal government to bail them out again. >> flooding in homes and businesses. verizon sent out a picture of the lobby of one of their big buildings not far from here during the night of the storm. there was a foot of hudson river in there and that's a case for a lot of different things down here in downtown new york and throughout. let's not forget it wasn't just new york. new jersey perhaps hardest hit of any particular state. >> i wonder how little we know. i was watching tv. we were having helicopter problems. suddenly there is atlantic city in real life. you realize that chris christie had what we
and analysis from our market experts. and is sandy a case for big government? why some are using the superstorm to say big government really is better. we separate the fact from fiction of that argument. that's all ahead on this special edition of "the closing bell." customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. >>> all right, getting back to breaking news on netflix, herb greenberg is on the story. >> netflix shares up about 17% right now, they've been flying and just the recent 10, 15, 20 minutes news hit carl icon taken a 9.9% stake in the company. icahn has been buying the shares since early september and he's identified netflix because he believes it's undervalued in its dominant position and international growth prospects and it may
'm looking at your industry and thinking this is one of the most heavily regulated government intervened industries in the country and those two facts are not connected? >> they're not connected, because basically you cannot stop hurricane sandy from knocking down power lines. and from bringing water into the underground tunnels in new york where we have underground equipment. or creating major snowstorms out in west virginia. we've had everything but the locu locusts in this situation and we've brought in 60,000 -- 60,000 people have left their homes from as far away from california and all around the country to come east here to sit in staging areas throughout the storm to get together, to help to try and bring power back on. they're the unsung heroes. i don't know of any other industry that does that. >> what about these substations, which apparently are going to be a big problem. when can they get cleared up so the power can flow? >> that's another thing. when substation gets flooded, like anything else, the water has to be pumped out. you talked about in terms of the amtrak situatio
. that equated to over 5,000 jobs. to be honest, i don't think the government on both sides has done enough to stimulate the economy and really create jobs in america. i'm glad to see the number go down it, but let's face it, we still have 14 million people unemployed. certainly so many people are being left behind and we need to do more. i also am very concerned about the states in which we have 42 of the 50 states facing a budget deficit. as a result of that, we're going to see cuts in social services. these are the kind of things that i hope whoever is elected president will be able to work with both sides and finally see the bipartisan cooperation that we need to lead the country out of the situation that we're in. as i said, my vote is for the president. >> all right. we'll leave it there. howard, good to talk with you. thanks so much. >> thank you. >> see you soon. howard schultz joining us at starbucks. let's get to bertha coombs with a market flash update. >> priceline beating the street on earn this afternoon. revenues topped expectations at $1.71 billion compared to $1.66 billion
central banks and the greek government that starts next week. >>> our road map starts with the jobs number that beats even the highest expectation on the street. 171,000 is the number with another 84,000 in revisions higher for the past two months. unemployment ticks up to 7.9% as the participation rate rises. is the number really as good as it looks? >> the death toll from sandy now stands at 94 as more than 3 million homes still without power now facing colder weather, gas lines stretch for miles and controversy surrounding new york's decision to hold the marathon this sunday. >>> the ipad mini on sale but lines are shorter than expected. we're live at apple stores for the reaction. >>> and starbucks, same store sales up 7% well above expectations. what is howard schultz doing that mcdonald's, chipotle and other restaurant chains are not? >> the report before tuesday's election. nonfarm rose in the month of october above forecast of 125,000. august and september figures were revised higher, 184,000 private sector jobs were added last month. the unemployment rate ticking higher to 7.9%, b
the conservative view and that precludes any disasters and that's a role of government. overreaction is more typical and you see that this morning. you're at work and i know where in new jersey you are and you have to cross george washington to get there. >> gordon, there must be some group of people who feel -- i think katrina was the dividing line. things changed. there used to be people who wanted to press this. take advantage of it. it seems like that is universally ruled as being reckless and indangendangerment. that wasn't the case before katrina. >> that's cya. public officials don't be a bonus for being right but they get criticized for being wrong. since katrina, you're right, everyone is taking conservative. hard to argue with that because when they are correct, it was the correct thing to do. as you see, you get to work and a lot of people can't get to work even if they wanted to. >> gordon, it's david faber. let's assume this goes through tomorrow and wednesday we start to see a break. how quickly can things get back to normal for the airline industry in this country? >> david, t
of the federal government here in washington is closed today. that includes the department of labor. however, folks at department of labor the bls is working hard on friday he's jobs report. the last one before election day. much anticipated. here's a statement we have from the department of labor. they say employees at bureau of labor statistics are working hard to ensure the timely release of employment data on friday, november 2nd. it's our intention friday will be business as usual recording the october employment situation report. no guarantees from the department of labor they're get this report out by friday because their workers are scatter add cross the region right now but they say their intent is to get it out. how could that affect the actual report itself? experts say in terms of the storm's impact in the last couple of days of the month, what you might see is an impact a little bit on hours worked, but not necessarily on the overall employment situation. it's mostly a question now of whether the staff can gather that data, get it into the department of labor, get it processed i
above expectations also. construction spending powered by residential spending. government spending was tailing off there. consumer sentiment missed, but that was better than it was in the prior month. take a look at the ism manufacturing index in detail. we had this swoon, june, july, august, now it's popped back up above 50 for two months in a row. early to call a trend but good signs the sector ahead of sandy w was. as we've been talking about, sandy devastating a big swath of the country. folks, we're talking about the 12 to 15 states involved here representing about one-quarter of the nation's gdp. it would be crazy to think we are not going to see that show up in the data. probably at initial decline, followed by some bounce back when it comes to the rebuilding spending that's going to be going on. as for tomorrow, tyler, 125k is the estimate for payroll. 7.9%. a tick up in the unemployment rate from that controversial number. but just this number will not be affected by sandy because the survey -- >> it was collected earlier. >> see you in a few minutes. >>> today's relativel
government is doing the right thing, they're helping out in the way that they should. here's how i would do things differently. that might be helpful. but it looks like he's dodging questions right now and this is on everybody's mind, so that can't be helpful to him. >> how is turnout likely to be affected? who is this going to benefit the most? >> i think in terms of reducing turnout, that's where it would be less helpful to president obama. he's counting on a lot of people showing up that were in his coalition in 2008. he already has a problem with voter intensity. people are not as excited about his campaign as they were in 2008. he needs his folks to turn out in big numbers. the romney electorate voters are more excited. i don't know that it's going to make that much of a difference in virginia where there's early voting. it's less important who actually shows up on election day. i think to the extent that it does diminish people showing up at the polls at all, that is less helpful to the president, more helpful to mitt romney. folks are going to show up one way or the other. it's the o
already been politicized. let's see if we can get back to the government leaving it alone. i wish the fiscal policymakers would work on fiscal policy and not point the finger, but only time will tell. >> so, given all of this, how do you want to invest in this environment? >> pick carefully. i think you needy verseification in these kind of environment. don't have all of anything. that means don't sell all of your bonds, even though rates are low. be careful of your duration. on the equities side, if you've enjoyed some of the profits so far this year, maybe take a little off the table. if you're still waiting an waiting, dollar cost average in, i think you need to have some exposure in various categories. >> good insight, as always. thanks very much. >> thank you. up next on "the wall street journal" report, the banker whose letter of resignation made the editorial page of t"the new york times." and later, small businesses employ awe half o of all americans. what this year's political climate means for the balance sheets for those businesses. as we take a break, take a look at ho
the checks come out from the government and private insurers. stimulus to the gdp. not big enough to move the needle. this one we're getting initial projections is much bigger. the two cohorts in stocks most impacted the home depot-like places, let's call them that, they were basically moved up a day ahead of the storm and then pulled off once the market turned out to be. >> we didn't see much of that on friday in terms of home depot or at lowe's which i thought was interesting and most of the retailers have closed their books on saturday, last saturday, so the impact of the storm won't actually be seen until the following quarter or the next month when they report retail sales. lowe's is the exception. they closed books on saturday. all the runup, the generators they've sold, the batteries, the flashlights, those things were almost sold out pretty much across the board. that should be interesting. >> i think people have to recognize that the market itself was not so hot last week. you had a chance to be able to buy home depot but people were worried about the report. the insurance compan
reports. pfizer, nrg and entergy. the government still planning to release personal income and spending data at 8:30. >> the question is did they decide to shut down the electronic portion because the s sec and others said we don't know whether the system unto itself will work, or -- >> they did taest it back in march. >> and they were undetermine pressure in banks and companies saying we don't want to send people to work. it's one thing to say we won't go it to the floor, but if you keep the can exchange oem, peop still have to interact with it. so the real question there. >> lower manhattan is probably not a place you want to hang out. >> goldman sachs which is right down there put out a memo saying you tonig don't have to come to work, but trading is open, so please come if you can. which goes to the issue they are right in the heart of what's called zone a which they're telling other people to evacuate. so i think this is part of what's going on. sbl we' . >> we've talked about the greedy wall street types. used to get a nickel to trade and now a basis point or something. unless the
're not seeing much demand. on the job front, the seasonal adjustments the government has in place, it's a five-years process. they tend to overstate the second half jobs numbers and understate the first half. >> second half of the year? >> yeah. >> why? >> because they're ov overcompensating for what happens in 2008. the bottom fell out in 2008. they adjust up for that. 2010 was really strong. they're under in the first half. they're compensating for that. so that understates. >> in all of this, with all of these uncertainties and what we're faced with in the economy, on the heels of sandy, how do you want to allocate capital? what are you telling investors? >> well, in terms of where the liquidity is going, because we have these liquidity ways, i think you want to be in shorter duration assets if you're going to look at the fixed income markets. you have to believe rates are going to go up. then you have to look at equity groups. that's where the last waves go into the more risky assets. >> and you're seeing that? >> yes. >> all right. we'll leave it there. chip, good to have you on the progr
government help states that are affected by this, but also because they think they're winning this race in the battlegrounds and that effectively the race is frozen. now governor romney was out in ohio today, campaigning, making some arguments about the auto bailout which has been an issue that's helped president obama in the state of ohio. but the problem for mitt romney and anyone else participating in the campaign right now is all the coverage is drowning out anything that politicians say. we are locked in a very tight race. we had two new polls out this morning, tracking polls. one, the washington post/abc news poll showed mitt romney 49%-brah 49%-barack obama 48%. another poll shows pro seciselye opposite. obama 48%. but they're the same poll. with a margin of error, we have essentially a tie race but the obama team believes that their advantage is in the battleground states like iowa, states like nevada, states like ohio that mitt romney needs and we'll see whether they are right. but as of now, it appears unlikely that things are going to move very much over the next couple of d
government to pay for all of this damage? wow. take a look at those waves. we are back in two minutes' time with more on "power lunch." so anyway, i've been to a lot of places. you know, i've helped a lot of people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> bob pisani
reverse mortgage today, you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ >>> big shake up at apple. the guy who wrecked throughout the retail stores he is out of here. he got his team in place. sell sell sell apple. he cook could have done nothing and sell sell sell apple. and people would say sell sell sell am. we are in full sell apple mode now. i think they were needed. steve jobs never promoted something like that. in fact he was willing to give sam samsung all of apple because jobs didn't like working with intel which he regarded as a company that didn't compete with apple. he loved the retail stores and made the cheery staff unhappy. jobs was not a nice man. so if these were so necessary, why weren't they viewed as being positive. losers have management turmoil. second and more important, this is no longer steve jobs apple. the book is so sensatio
and storms over our market for a long time. miserable european backdrop, worries about a government shutdown. squalls about the fiscal cliff. the freezing of the election, which is emblematic of the total gridlock in washington. all these have been part of what's been an endless malaise. what do you do? do you surrender and say if the future is down? no. here's my advice. we heard endlessly that revenues have disappointed. how about these, panera, honeywell, ppg, verizon, yahoo, comcast, the parent company of this network. these companies beat and raised and could all be down because of a market-wide selloff. they have remarkably good charts that could bounce when the selloff smoke clears. the market goes down even when it's closed. but we also have a plan. use it. we can profit from the market's malaise. we've just had to find the winners more than we had to at the market's bottom three short years ago. stick with cramer. >> stick connected with cramer on madmoney.cnbc.com. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety
'd probably be a view that government would be potentially shrinking. short-term, about what would happen with the fed. and i don't think that a reelection of obama is necessarily much worse for markets, but it is less positive in terms of the markets. >> i'm seeing both sides. i'm seeing people that -- people that just love, i don't know, spending ahead. and worry about austerity and if romney gets elected, talking about austerity, in the same boat as europe and he's going to turn off the federal reserve. and that's amazing to me that as we hurdle toward 40% of gdp being spent on government entitlements by whatever year, but it's coming if we don't curb things. i would think that curbing that near term would be a positive. but i see people arguing that he'd be cutting off the punch bowl, romney, if he were elected. >> well, you know, that's a great question. and i think in terms of timing, you know, i think it would be unrealistic for a new president to make one of his first 100 days act to change the fed. >> so we decided we like bernanke then? so qe-3, the way to say that romney won't
members, who don't have homes. i think there will be a rapid response from the federal government. >> i'm just saying, we could use that money in other areas right now. not necessarily the bond buying program. just an observation. >> maria, i got say, i don't know if the bond buying is actually helping. we're seeing a lot of bond buying. i don't know where that money is going to. we see unemployment raising. >> is survey showed pick ups in demand for most classes in lending right now. so it has had a positive effect in a place where it could matter. we have seen in general some of the interest rates that matter go down in the economy, including mortgages. >> and a big uptick in housing. >> maybe not perfect, but it seems to have had an effect. >> do we anticipate the typical pickup in economic activity following a natural disaster of this magnitude here, ron? >> bill, listen, it's going to take a little while, just as it has during other periods of natural disasters. steve and i were talking before we came up. i think what we need to see is opposed to some sort of peace meal fixing of t
's a government-run program so obviously they're going to try to better assess what kind of pricing they charge for the flood coverage. >> but you would expect that flood insurance pricing just from the government program itself would go up as a result of this, too? >> usually when you have losses what follows are price increases afterwards but yes, i would certainly expect you might see some changes there as well. the assessment of this storm, as bad as it seems the european reinsurance companies were trading up today. >> we saw that earlier. which companies have the most exposure here? >> there are several that have exposure in the northeast. allstate, travelers, chubs, aig, hartford, any number of those would have exposure to the northeast. >> what were the other? >> allstate, travelers, chubs, aig, hartford. >> gloria, we have to run, quick question and i know two years does not make a trend, given we have two storms in way we haven't had in many years does that change how insurance is going to be marketed for example up here? >> i don't think it's going to change how it will be marked. i t
is uncertainty in the banking industry, where they lay off, government sees more- >> we have ceos sit over here, what you're going to do with the money, or how many people you're going to hire, it's not tens of thousands, but it's something. and they're high paying jobs. ford hired some people. it really is amazing when the u.s. is screwing up in europe. >> honda's spending 200 million to make some transmission plans in ohio, they're trying to make north america their main base for manufacturing. >> talk about japanese companies, though. >> panasonic. >> panasonic has a $12 million write off. >> it has to be sharp, sharp, sharp. and they have concerns about their ability to operate as a going concern. they're looking at investments from on high. the china protests are going to work out. >> this is as much as a stiff today, it's a 30-year low. >> these are huge companies, the vhs, beta max work. that's a good point actually. >> these are all the leaders. these were all the leaders that you think about. >> i remember when there was a period in 1998 and 1999 it was a question of who was going to r
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